New products launched by Peruvian personal accident and health insurers

Executive summary

The gross written premium of the Peruvian personal accident and health insurance segment accounted for 10.0% of the insurance industry in 2013. In terms of the value, the gross written premium grew at a compound annual growth rate (CAGR) of 12.4% during the review period (2009–2013). Health insurance was the largest category with 73.7% of the segment’s gross written premium in 2013, followed by personal accident insurance with 2.8%. Rising healthcare expenditure, changing regulatory reforms in the insurance industry, and increased consumer awareness supported the growth of personal accident and health insurance in Peru.

Scope

This report provides a comprehensive analysis of the personal accident and health insurance segment in Peru:

It provides historical values for the Peruvian personal accident and health insurance segment for the report’s 2009–2013 review period, and projected figures for the 2013–2018 forecast period.

It offers a detailed analysis of the key categories in the Peruvian personal accident and health insurance segment, along with market forecasts until 2018.

It covers an exhaustive list of parameters, including written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, frauds and crimes, total assets, total investment income and retentions.

It analyses the various distribution channels for personal accident and health insurance products in Peru.

It profiles the top personal accident and health insurance companies in Peru and outlines the key regulations affecting them.

Key highlights

Personal accident and health insurance is expected to be driven by increases in healthcare expenditure and outbound travel.

The personal accident and health insurance segment accounted for 10.0% of the Peruvian insurance industry’s gross written premium in 2013.

Personal accident insurance is compulsory for individuals working in high-risk professions such as mining and fishing, while the SOAT covers expenses of the policyholder or any other third party involved in a motor accident.

Health insurance was the largest category with 73.7% of the segment’s gross written premium, followed by personal accident with 2.8% in 2013.